santos jv with mhl, page-139

Hi Alex - as I have said al along I was always sure the land they had was of high potential - although having a resource is one thing, being able to extract it is not always an easy matter depending on the geology etc.

Surely you must concede that your speculation and enthusiastic posting would ring warning bells given the history here.

As I posted on January 6;
"The problem I have is that we knew 4 years ago there was a high probability of massive "new" reserves there - this is nothing new!

What it needs is some initiative by management to get it out.

They have effectively done didly squat about that for 4 years."

Big question arising here is WHY have they not progressed this already?

Perhaps the screen bids are building but perhaps this is due to all the "mates" and insiders getting ready for a nice pump and dump and you got the inside word on that coming?

Again as previously posted, I am not anti MHL, nor do I hope they fail, I would definitely consider buying again if there was some genuine long term potential flagged - I thought that had happened years ago, along with Brantley and many others, but management screwed us over in so many ways.

There could well be a run coming, but a sustained long term growth path for MHL - I seriously doubt it!

Deep inside I do actually hope you are right - but I remain very sceptical that these leopards have changed their spots!!

Cheers

Cabe